BAKU, Azerbaijan, Sept. 1
By Sadraddin Aghjayev - Trend:
Debts of subsidiaries of the State Oil Fund of Azerbaijan (SOFAZ) decreased by 44.5 percent, Trend reports citing the financial report of SOFAZ.
In addition, as of January 1, 2021, in total, the debts of SOFAZ subsidiaries amounted to 515.3 million manat ($303.1 million), which is 44.5 percent less compared to the same period or 2020.
SOFAZ ended 2020 with a net profit of 5.36 billion manat ($3.15 billion), which demonstrates an annual growth of 24.2 percent.
SOFAZ was established in 1999 with assets of $271 million.
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